HomeBitcoin NewsSouth Korea's Wemakeprice Prepares to Integrate Cryptocurrency Payments

South Korea’s Wemakeprice Prepares to Integrate Cryptocurrency Payments


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South Korea will remain a key region for future cryptocurrency adoption. Even though regulation is in place, there is a bright future ahead. So much even that Wemakeprice will implement cryptocurrency payments very soon. They plan to support Bitcoin, Litecoin, and Ethereum. It is possible more currencies will be supported, but those have not been confirmed at this point. It is another big step forward for Bitcoin and altcoins in South Korea.

Non-Koreans may not be all too familiar with Wemakeprice. It is one of Korea’s largest eCommerce platform as a whole. It also appears the company has plans to collaborate with Bithmb. Given that exchange’s position in the market, the choice makes a lot of sense. As a result of this partnership, integrating cryptocurrency payments will be rather easy. It is the first we see someone explicitly name Bithumb for their merchant services. An interesting development worth keeping an eye on.

Wemakeprice Embraces Major Cryptocurrencies

It is evident this new payment method will raise a lot of questions. More specifically, there will be a significant amount of friction to contend with. To alleviate these concerns, the eCommerce giant removes the need for customers to have an active Bithumb account. It is a peculiar development, a sit remains unclear how this will work exactly. There seems to be a lot more to this partnership than meets the eye at first. Integrating cryptocurrencies is a big move, but the company is confident in their decision.

For the rest of the world, this new is rather significant. The past 18 months haven’t been all that positive for cryptocurrencies as a payment method. A few major platforms removed their support for Bitcoin. Additionally, none of those opted to support a different cryptocurrency either. It is evident this form of money needs some positive momentum. Having the support of Wemakeprice can lead to much bigger and better things in the future.

South Korea is still a very important region to Bitcoin. Despite the wave of regulation, everything seems to fall into place nicely. There is no ban on trading, and the cryptocurrency industry is still booming. Now that retailers show a big interest in this new form of money, things can only improve from here on out. After Japan, South Korea is the second Asian nation with a major retailer accepting cryptocurrency payments. We can only hope Wemakeprice reaps the rewards from doing so.

Header image courtesy of Shutterstock

JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.


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